Start Musical Instrument Wholesale and Manufacturing


drums
Manufacturing musical instruments is capital intensive and slightly challenging. It also requires specialized knowledge of the manufacturing process.
An entrepreneur needs to determine the type of instrument to produce. The type of instrument and niche ultimately provides a blue print or guide.
 It is commonplace to find a variety of musical instrument in a music store. Instruments found in stores are pianos, flute, drums, guitars and trumpets.
They also support equipment's used during performances such as speakers, microphones, different cords, cables and stage lighting.
However manufacturers specialize only in one product at a time.
Stocking the Store
The store owner is at liberty to sell high quality or cheap products. It depends on his business model and clientele.
Some specialize in high quality goods and offer excellent customer service. Musical instrument wholesalers purchase the goods directly from manufacturers.
They could concentrate on mass produced instruments or expensive hand crafted pieces. Write a comprehensive list of products for your store.
Focus on popular instruments for quicker turnover of inventory. Place the instruments at designated sections in your music store
Incorporate the Instrument Store
Incorporate the store as a one man business or a limited liability company. Register a good business name and get insurance cover. You need a trade license and tax identification number.
Lease a Store Front
The store front you choose should be visible with lots of pedestrian traffic. The store should have a good storefront and storage at the back.
Other requirements are parking space, close to commercial area and should fall under zoned area. Make sure your store is appealing, attractive and easy to locate.
Funding the Business
Musical instruments are expensive even the cheap mass produced ones. You need huge funds to purchase equipment, lease space, hire staff and promote the business.
Apply to commercial banks in your locality for loans. They will need collateral, business plan and proof of experience in the trade.
The type of loan too seek should be long term loans that attract a small fixed interest rate. This is because capital will be tied down on inventory for several years.
Types of Musical Instruments
There are many kinds of music instrument to purchase. Common instruments found in stores are electric guitars, acoustic guitars, and violin. Others are digital pianos, drum set, drum kits, flute, trumpets and musical keyboards.
A List of Musical Instruments
Guitar
Harmonium
Electric Guitar
Violin
Musical Keyboard
Acoustic Guitar
Digital Piano
Flute
Drum set, Drum kit
Trumpets
Percussion instruments
Saxophones
Accessories
Hire Staff
Music stores require very few staff such as sales clerk and a sales person. Hire staff knowledgeable of playing instruments. The smaller the staff the fewer wages you pay and more profit made.
Musical Instrument Manufacturers
Manufacturers of musical instruments need to focus on a niche. They should purchase equipment relevant to the type of instrument they want to manufacture.
Source raw materials in the open market and borrow startup funds from financial institutions. A good marketing strategy for manufacturers is to offer discounts and support for music stores and wholesalers.
Marketing the Music Store
There are many ways to attract patronage of your store. Organize community based events to attract interest.
Try to approach music schools, church choirs and music industry players. Use flyers, billboards, posters and signboards to attract customers.
How to Start a Disc Jockey Business

0 comments:

Post a Comment

Note: Only a member of this blog may post a comment.